Widmer Company had gross wages of $162,000 during the week ended June 17. The amount of wages subject to social security tax was $145,800, while the amount of wages subject to federal and state unemployment taxes was $20,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $32,400. If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places. a.  Journalize the entry to record the payroll for the week of June 17. June 7   fill in the blank ff7bb505303103a_2 fill in the blank ff7bb505303103a_3     fill in the blank ff7bb505303103a_5 fill in the blank ff7bb505303103a_6     fill in the blank ff7bb505303103a_8 fill in the blank ff7bb505303103a_9     fill in the blank ff7bb505303103a_11 fill in the blank ff7bb505303103a_12     fill in the blank ff7bb505303103a_14 fill in the blank ff7bb505303103a_15 b.  Journalize the entry to record the payroll tax expense incurred for the week of June 17. June 7   fill in the blank 97c9420affbb06e_2 fill in the blank 97c9420affbb06e_3     fill in the blank 97c9420affbb06e_5 fill in the blank 97c9420affbb06e_6     fill in the blank 97c9420affbb06e_8 fill in the blank 97c9420affbb06e_9     fill in the blank 97c9420affbb06e_11 fill in the blank 97c9420affbb06e_12     fill in the blank 97c9420affbb06e_14 fill in the blank 97c9420affbb06e_15

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Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.